Foldables still haven’t made it to mainstream and are still at a nascent stage, but they are getting much better with time. Samsung has been leading the way in the foldable market since the beginning, but it managed to keep its crown safe despite facing stiff competition from rivals.
For years, the company dominated the foldable market, thanks to its Galaxy foldable devices. Another reason was the lack of competition, as other brands were lagging with the foldable tech. Till Q1 2023, Samsung grabbed around 60% of the global foldable market, with its next-closest competitor being Huawei at 14%. But things seem to have changed drastically.
As per a new report from Counterpoint Research, Samsung’s share has come down to just 23% of the global foldable market, with Huawei emerging as the new market leader with 35% of total shipments. That’s also as the foldable market as a whole grew by around 50%.
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Samsung Loses Its Foldable Market Crown To Huawei
Apart from Samsung and Huawei, Honor and Motorola have 12% and 11% of the market respectively. Both brands witnessed huge growth in 2023, likely due to devices such as the Razr+ and Magic V2, both of which were promising foldable in their own respects.
Samsung’s downfall could be due to last year’s Galaxy foldable portfolio, the Fold 5 and Flip 5, which were minor upgrades over their precursors. Apart from the Flip 5’s larger cover display, Samsung did not bring any major changes in terms of physical hardware or even the software on its foldable devices.
However, the company’s competitors such as Motorola, Honor, Google, and Oppo/OnePlus were constantly upping their games with better hardware, software, and camera capabilities that Samsung failed to offer.
What’s interesting is that book-style foldables such as the Galaxy Z Fold 5, Pixel Fold, and OnePlus Open are now the most popular form factor. In Q1 2024, 55% of devices that were shipped were book-styled devices, where clamshells like the Galaxy Z Flip 5 and Motorola Razr+ made up for the remaining portion.
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Samsung Dethrones Apple In Global Smartphone Shipments
Samsung has dethroned Apple to regain its top spot in the global smartphone market in Q1 2024. The South Korean firm defeated Apple just by one quarter after it was pushed down to the second position, all thanks to impressive sales of the Galaxy S24 series, which was launched in January earlier in 2024.
In the fourth quarter of 2023, Apple became the world’s biggest smartphone company in terms of unit sales. Samsung was beaten by Apple in second place during that quarter. However, Samsung has returned strongly in the first quarter of 2024, riding the wave of the successful Galaxy S24.